Stories
SEDF has provided support to financial institutions in more than fifty countries. These institutions expand the availability of financial services to thousands of micro, small and medium-sized enterprises, creating jobs, increasing family stability, and giving vulnerable communities greater control over their futures.
A Grocery Thrives
Barron Clairemante, a married mother of two, runs a grocery stand in Port-au-Prince, Haiti. In 2000, she received her first loan from Association Pour la Coopération avec la Micro Entreprise (ACME) for $235. As her business expanded, she received and successfully repaid $8,000 worth of loans from ACME. Her business now encompasses a second grocery stand in a neighboring market and a warehouse depot for inventory. With the income she earned over the years, she was able to purchase a home in the suburbs of Fontamara.
A New Start
Jordan Marinov belongs to the Roma (Gypsy) community in Pirdop, Bulgaria. He has held various short-term jobs, from collecting wood to public works. In 2004, he learned of Mikrofond, a financial company offering credit to low-income entrepreneurs. He approached Mikrofond with a business idea, and soon after received a loan to build a kiosk in his neighborhood. His kiosk, selling soda, food and household goods, is now a popular gathering spot in the community. Thanks to his new income, he was able to purchase his family’s first car.
Magnate in the Making
For the past eight years, Nargis Saleem has run two businesses out of her home in Korangi, Pakistan: making school uniforms and teaching sewing. In 2006, Nargis took a loan of $493 from Tameer Microfinance Bank to buy raw material and four sewing machines. “Since I took the loan there is no tension in my life,” she says. With her extra earnings, Nargis recently started a third business: a grocery stand near her home managed by her son.